![]() ![]() Sixty-six percent of Americans, including 77 percent of Democrats and 57 percent of Republicans, said there should be more regulation of “financial companies such as Wall Street banks, mortgage lenders, payday lenders, debt collectors and credit card companies.” Over half of Americans said the influence of big banks in Washington is too high. A survey from Lake Research Partners/Chesapeake Beach Consulting last October asked Americans about bank regulation and specific policies, finding widespread support across the political spectrum. It’s perhaps no surprise, then, that many Americans feel banks ought to be more regulated. Unions Have Been Under Attack For Decades, But Michigan Just Gave Them A Big Win While this level crawled back up to 38 percent in 2020, it has since fallen again and never reached the consistently high levels of the mid-’90s and early 2000s. In 2007, 41 percent of Americans expressed substantial confidence in banks by 2009, just 22 percent did. While a majority of Americans once said they had a “great deal” or “quite a lot” of confidence in banks, that changed dramatically after the 2008 financial crisis. ![]() Gallup has been polling Americans on their confidence in various institutions - including banks - since before the 1980s. But Americans haven’t had much confidence in banks and other financial institutions for a while, and most think more regulation is needed. Investors have clearly been spooked by the failure of SVB and Signature Bank, a New York-based institution that also collapsed over the weekend. The stocks for regional banks, in particular, dropped significantly, even as federal regulators worked to mitigate the fallout. When Silicon Valley Bank collapsed last week, it caused the stock market to begin a five-day drop.
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